Property Prices in Croatia Recovering Slowly

House prices in Croatia may be on the rise again after an awful few years of decline, according to Eurostat’s latest House Price Index…

House prices were up all over the European Union, with the second quarter of 2014 recording the biggest rise in prices since 2010. In Q2 property prices in the EU rose 1.7% on average compared to the same period last year, the biggest hike in prices since Q3 four years ago. In the first quarter this year they also rose (0.9%).

Out of all the member states in the EU, Croatia saw the largest increase in average prices after a 9.7% jump in Q1 saw house prices 2.9% in Q2 2014 year-on-year. Q2 was the smallest drop in falls since Q3 2012 when they contracted by 0.2%. Estonia recorded the biggest rise in house prices in Q2 – up 14.5%, whilst Ireland and Great Britain followed with 12.5% and 10.2% respectively. Slovenia and Italy saw the greatest falls, with drop in prices of 9.8% and 4.8% respectively.